KPS Capital Partners To Sell DexKo To Brookfield Business Partners

DEXKO DOUBLED ITS PROFITS UNDER KPS' OWNERSHIP

NEW YORK,July 5,2021 --KPS Capital Partners,LP ("KPS") announced today that it has signed a definitive agreement to sell its portfolio company,DexKo Global Inc. ("DexKo" or the "Company"),to Brookfield Business Partners L.P. (NYSE:BBU) (TSX:BBU.UN) together with its institutional partners (collectively "Brookfield") for $3.4 billion. Brookfield Business Partners L.P. is the flagship listed business services and industrials company of Brookfield Asset Management.

DexKo is the world's leading supplier of advanced chassis technology,chassis assemblies and related components with more than 130 years of experience in trailer and caravan components. DexKo was founded at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. KPS acquired DexKo in 2017 from The Sterling Group L.P.,who retained a minority ownership stake in the Company. Headquartered in Novi,Michigan,DexKo employs more than 6,000 associates with 50 production facilities and 50 distribution centers worldwide.

KPS and DexKo's management team executed a successful growth strategy and created a large-scale,leading global industrial components manufacturer. In under four years of KPS' ownership,DexKo completed 15 acquisitions,investing over $600.0 million to significantly broaden DexKo's product offering,expand the Company's geographic,end-market and channel reach and strengthen DexKo's position in its existing markets. KPS and management transformed DexKo by investing in automation,reducing manufacturing complexity,enhancing the Company's procurement processes and improving DexKo's commercial strategy. As a result of these initiatives,DexKo doubled its profits,achieved industry-leading margins and generated significant free cash flow under KPS' ownership.

Raquel Palmer,Co-Managing Partner of KPS stated,"DexKo exemplifies the KPS investment strategy of seeing value where others do not,buying right and making businesses better,across decades,economic and business cycles,geographies and industries.

"We are proud of DexKo's extraordinary transformation under our ownership. DexKo demonstrates our ability to partner with world-class management teams to build industry-leading manufacturing companies on a global basis. The Company's success is a direct result of KPS' unwavering commitment to and investment in DexKo's organic and strategic growth initiatives and its people. The Company is well-positioned for continued growth and industry leadership under Brookfield's ownership.

"We congratulate and thank Fred Bentley,DexKo's Chief Executive Officer,along with the Company's senior management team,for their strategic vision and brilliant execution,which resulted in the Company's significant growth and value creation under our ownership. We also thank The Sterling Group,who was an excellent partner to KPS and the Company over the last four years."

Fred Bentley,Chief Executive Officer of DexKo,added,"Our partnership with KPS has been extraordinary. KPS recognized DexKo's strength and potential from the start and invested to support DexKo's growth ambitions. DexKo has become a better business as a result of KPS' investments in our operations and people. KPS supported our efforts to provide our customers with unparalleled quality,technology and customer service. In addition,KPS deployed its significant capital resources and expertise to support DexKo's acquisitive growth strategy. DexKo is well positioned for future growth which we look forward to pursuing in partnership with Brookfield."

Paul Weiss,Rifkind,Wharton & Garrison LLP served as legal counsel and Goldman Sachs & Co. LLC,supported by Credit Suisse and J.P. Morgan Securities LLC,served as lead financial advisor to KPS and DexKo. Completion of the transactionis subject to customary closing conditions and approvals.

About DexKo Global Inc.

DexKo is the world's leading supplier of advanced chassis technology,chassis assemblies and related components with more than 130 years of experience in trailer and caravan components. DexKo was founded at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. Headquartered in Novi,the company employs more than 6,000 associates with 50 production facilities and 50 distribution centers worldwide.

About KPS Capital Partners,LP

KPS,through its affiliated management entities,is the manager of the KPS Special Situations Funds,a family of investment funds with approximately $12.8 billion of assets under management (as of March 31,2021). For nearly three decades,the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries,including basic materials,branded consumer,healthcare and luxury products,automotive parts,capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better,and generates investment returns by structurally improving the strategic position,competitiveness and profitability of its portfolio companies,rather than primarily relying on financial leverage. The KPS Funds' portfolio companies currently have aggregate annual revenues of approximately $10.9 billion,operate 149 manufacturing facilities in 22 countries,and have approximately 35,000 employees,directly and through joint ventures worldwide (as of March 31,2021,pro forma for recent acquisitions). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.